Posts Tagged 'declining rate of profit'

Bonfire of Illusions: The Twin Crises of the Liiberal World, by Alex Callinicos

Plenty of illusions but no bonfire. The problem with this book’s title – acknowledged by Callinicos – is that the ruling neoliberal ideology is very much alive and kicking. Fixing as his point of departure the timely conjunction of the financial meltdown of 2008 and the Russia-Georgia war, the author argues that these events marked the end of the post-Cold War epoch of unipolar US supremacy and neoliberal orthodoxy. A detailed accounting of the financial crisis, informed by an understanding of falling profit rates, gives way to a weaker outline of geopolitical strategy that frequently reiterates the earlier economic arguments. SS

Polity; 2010; 179 pages

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Language ought to be the joint creation of poets and manual workers. George Orwell

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